Investing.com - " European stocks were lower on Thursday, after
the release of downbeat German economic reports and as the Federal
Reserve gave no clear indication on when it plans to scale back its
During European morning trade, the EURO STOXX 50 edged down 0.15%,
France's CAC 40 fell 0.21%, while Germany's DAX 30 slipped 0.20%.
Data showed that the Gfk German consumer climate index declined to
7.0 in October, from a reading of 7.1 the previous month,
confounding expectations for a rise to 7.2.
A separate report showed that retail sales in Germany fell 0.4% in
September, disappointing expectations for a 0.4% rise, after a
downwardly revised 0.2% slip in August.
In the U.S., the Fed left its USD85 billion-a-month asset purchase
program in place and gave no clear indication whether it would
start scaling back stimulus at the December meeting or continue it
into the start of 2014.
"The housing sector has slowed somewhat in recent months," the Fed
statement said. However, Fed officials stuck to the view that the
economy is expanding "at a moderate pace" and said downside risks
Financial stocks were broadly higher, as French lenders BNP Paribas
and Societe Generale gained 1.93% and 0.58%, while Germany's
Deutsche Bank climbed 0.41%.
Earlier in the day, BNP Paribas reported an unexpected increase in
third-quarter net income.
Among peripheral lenders, Spanish banks BBVA and Banco Santander
rose 0.17% and 0.46%, while Italy's Intesa Sanpaolo and Unicredit
gained 0.86% and 1.06% respectively.
Elsewhere, Air France-KLM declined 0.84% after saying earnings will
be at the bottom of its 2014 projected range.
In London, commodity-heavy FTSE 100 shed 0.39%,weighed by sharp
losses in Shell, down 4.21%, after the oil company said
third-quarter earnings dropped due to lower refining gains and
disruptions in Nigerian output.
Meanwhile, mining stocks were mixed. Rio Tinto added 0.17% and
Glencore Xstrata gained 0.44%, while BHP Billiton slipped 0.28% and
Fresnillo plunged 3.02%.
In the financial sector, stocks were broadly higher as the Royal
Bank of Scotland edged up 0.16% and HSBC Holdings climbed 0.48%,
while Lloyds Banking and Barclays advanced 0.50% and 1.01%
In the U.S., equity markets pointed to a lower open. The Dow Jones
Industrial Average futures pointed to a 0.23% fall, S&P 500
futures signaled a 0.32% decline, while the Nasdaq 100 futures
indicated a 0.48% drop.
Later in the day, the U.S. was to release data on initial jobless
claims and a report on manufacturing activity in the Chicago
offers an extensive set of professional tools for the financial
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